90.7 WMFE and 89.5 WMFV are Central Florida's primary provider of NPR programming and Classical Music. Part of the community since 1965, providing quality national and local news and programming. We inspire and empower all Central Floridians to discover, grow and engage within and beyond their world.
Support for 90.7 WMFE is provided by

Biden is canceling up to $10K in student loans, $20K for Pell Grant recipients

More than two years ago, then-presidential candidate Joe Biden pledged to cancel at least $10,000 in federal student loans. The pledge has followed his administration ever since.
Image credit: Brendan Smialowski


On Wednesday, President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.

“In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden said in a tweet on Wednesday.

Rollins professor says Biden student loan forgiveness plan could alleviate teacher shortage

U.S. Secretary of Education Miguel Cardona said in a statement, “Today, we’re delivering targeted relief that will help ensure borrowers are not placed in a worse position financially because of the pandemic, and restore trust in a system that should be creating opportunity, not a debt trap.”

To qualify for the $10,000 forgiveness, individual borrowers must earn less than $125,000 a year, or less than $250,000 a year for couples.To qualify for the $20,000 forgiveness, borrowers must meet those income requirements and must have received a Pell Grant in college. Pell Grants are designed to help low-income students pay for higher education. About a third of undergraduate federal student loan borrowers receive Pell Grants every year.

About 43 million borrowers will benefit, and 20 million will have their debt completely canceled, according to a senior administration official.

The Education Department said it will announce further details on how borrowers can claim this relief in the weeks ahead.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Get The 90.7 WMFE Newsletter

Your trusted news source for the latest Central Florida news, updates on special programs and more.

GET THE LATEST
Stay tuned in to our local news coverage: Listen to 90.7 WMFE on your FM or HD radio, the WMFE mobile app or your smart speaker — say “Alexa, play NPR” and you’ll be connected.

WMFE Journalistic Ethics Code | Public Media Code of Integrity

TOP